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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What is the nickname for the Government National Mortgage Association?
(a) Ginnie Mae.
(b) Johnny Mac.
(c) Freddie Mac.
(d) Fanny Mae.

2. What does Lewis see as John Gutfreund's "calling card" as he makes his rounds in the trading floor?
(a) A hand-written note.
(b) Cigar ash.
(c) A slap on the back.
(d) Coffee grounds.

3. The author characterizes the bond trader as a _____.
(a) Cowboy.
(b) Bull.
(c) Rock star.
(d) Warden.

4. Who is chairman of the Federal Reserve in 1979?
(a) Paul Volcker.
(b) Ben Bernanke.
(c) Arthur F. Burns.
(d) Alan Greenspan.

5. Lewis observes that the cruelty that traders bestow on everyone in their wake is _____.
(a) Illegal.
(b) Personal.
(c) Ceremonial.
(d) Permanent.

6. A challenge in Liar's Poker is like saying _______.
(a) "You're a con artist."
(b) "I doubt it."
(c) "I'll take the gamble."
(d) "You're an idiot."

7. What does Lewis Identify as the two emotions that commonly destroy traders?
(a) Drive and determination.
(b) Fear and greed.
(c) Apathy and sadness.
(d) Self-loathing and listlessness.

8. What is the name of an interview technique designed to test an applicant's nerve?
(a) Instant recall command.
(b) The silent treatment.
(c) Direct humiliation.
(d) The yell test.

9. Lewis states that analysts don't analyze anything; they are just _____ to corporate financiers.
(a) Secretaries.
(b) Sounding boards.
(c) Coffee makers.
(d) Slaves.

10. By definition, an analyst's job lasts how long?
(a) Six months.
(b) A lifetime.
(c) Two years.
(d) Twenty years.

11. There are 287 books about bonds in the New York Public Library and most of them are about _____.
(a) Chemistry.
(b) Family ties.
(c) A British spy.
(d) Junk Bonds.

12. As Lewis gets more experience at Salomon Brothers, he realizes that an inexplicable aspect of studying to be an investment banker is that _______ serves no function in an investment bank.
(a) Economic theory.
(b) A college degree.
(c) Politeness.
(d) Making plans.

13. William Simon becomes the secretary of the U.S. Treasury under which president?
(a) Richard Nixon.
(b) Gerald Ford.
(c) Lyndon Johnson.
(d) Jimmy Carter.

14. What aspect of the dollar bill is the integral component of Liar's Poker?
(a) The serial number.
(b) The mint.
(c) The owner.
(d) The year.

15. What is photocopied 126 times from The New York Times and distributed among the trainees each morning?
(a) The front page.
(b) The comic section.
(c) The crossword puzzle.
(d) The business section.

Short Answer Questions

1. What is another word for savings and loan?

2. Gutfreund's wife, Susan, is spending fifteen million dollars decorating his ______ apartment.

3. A trainee asks Horowitz about why the company's largest shareholder is from which country?

4. Lewie Ranieri is doing what when he is called in by Gutfreund to take over the mortgage department?

5. In 1986, forty percent of Yale's graduating class apply to which bank?

(see the answer keys)

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